Journeo receives two purchase orders

Technology group Journeo said on Monday that it has received further purchase orders to supply and install the first tranche of safety systems on RATP buses within the Transport for London fleet.

Journeo said the £1.7m contract award will be paid in nine tranches and will see the group upgrade more than 200 buses, with installations set to be carried out over the remainder of 2024 and during Q125.

The AIM-listed group also stated that revenues were already included in internal expectations and added to its "strong order intake", providing further future revenue visibility.

Chief executive Russ Singleton: "I am delighted that RATP have selected our high-performance bus safety systems. This award is a further validation of Journeo's CMS which is increasingly being adopted by safety conscious public transport authorities and fleet operators throughout the UK where we have installed around 4,000 systems, including approximately 1,500 in London."

As of 1035 GMT, Journeo shares were up 2.82% at 290.48p.

Reporting by Iain Gilbert at Sharecast.com